GNFC surges after bulk deal

Gujarat Narmada Valley Fertilizers & Chemicals jumped 9.15% to Rs 242.15 at 15:21 IST on BSE after a bulk deal of 2.55 lakh shares was executed on the scrip at Rs 233.25 per share at 12:30 IST on BSE.

Meanwhile, the BSE Sensex was down 33.39 points, or 0.12%, to 28,096.45

Bulk deal boosted volume on the scrip. On BSE, so far 12.32 lakh shares were traded in the counter, compared with an average daily volume of 2.26 lakh shares in the past one quarter. The stock hit a high of Rs 247.55 so far during the day, which is also a record high for the stock. The stock hit a low of Rs 223.05 so far during the day. The stock hit a 52-week low of Rs 59.25 on 23 October 2015. The stock had outperformed the market over the past 30 days till 20 October 2016, rising 26.41% compared with 1.32% fall in the Sensex. The scrip also outperformed the market in past one quarter, gaining 40.1% as against Sensex's 1.17% rise.

The mid-cap company has an equity capital of Rs 155.42 crore. Face value per share is Rs 10.

Gujarat Narmada Valley Fertilizers & Chemicals (GNFC) reported net profit of Rs 50.62 crore in Q1 June 2016 as against net loss of Rs 9.36 crore in Q1 June 2015. Net sales declined 10.55% to Rs 945.44 crore in Q1 June 2016 over Q1 June 2015.

GNFC is one of the leading companies in the fertilizer industry in India.

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